/biz/ - Business & Finance

>>55439528
On the subject of why BCH is mooning.
1/2 Roger Ver had enough BTC to decide on his own whether BCH or BTC will become bitcoin.
Newfags like to act like 1mb blocks were pre-determined to win, but really it was the other way round back then. Roger Ver alone had 300k BTC, Jihan had six-figs as well, and more than half of the real OGs from 2011 were in the BCH camp. So why did BCH fail to flip?

Once Roger started flipping BTC, exchanges stopped trading. BCH remained at the price it was before the halt, while massive amounts of USDT were printed, and BTC started mooning. Once trading resumed, suddenly "interest" in BTC was much higher than that in BCH.

Why? Because Bitfinex and Binance started manipulating the price. Their internal balances did not reflect what was on the exchange. They were dumping depositor's BCH on third party exchanges, coordinating fake trades to make it as if BCH was being sold in record breaking numbers on their exchanges as well and they faked it and faked it until BCH was only a fraction of the price of BTC.

The result? Even up until 2023, Binance had 600k BCH deposited, while its balances only showed 120k available. They never bothered to rebuy the coin and were pretty much insolvent. They wouldn't care, because they'd be able to buy it even more cheaply (which they are doing atm).

The reason BCH is mooning is that Binance has been put under extreme scrutiny by both the USA and the EU. The missing BCH balance will be exposed if they don't make up for it somehow and they're consistently buying. There is nothing to suggest they'll stop doing that anytime soon, as they need to purchase a total of 480k BCH, perhaps finex needs to do the same, and to top it all off, the green dildos they made have started a reflexivity trend, with many new people buying in.

>>54237830
>still a thing
Literally all early bitcoiners chose BCH back in 2017.
I'm sure most of us gave up, but why are you acting surprised, these are the same people who were being told they're crazy for buying $20 BTC.